Varicose Veins Treatment Market size is projected to surpass USD 4 Billion by the end of 2035, growing at a CAGR of 5% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of varicose vein treatment was around USD 1 Billion. The market growth can be attributed to the increasing number of elderly people who are prone to different types of varicose veins. Further, the growing prevalence of R&D activities in the field of compression and newer technologies for the treatment of varicose veins across the globe will add to the market expansion.
Additionally, soaring investments and collaboration between major industry players to discover effective treatments for varicose veins will boost the market demand. For instance, on October 2021, the FDA granted a 510k clearance to VenClose Inc., a privately owned Silicon Valley medical device company focused on innovative treatments for venous reflux diseases through novel catheters of radiofrequency ablation known as MavenRFA that can be minimally invasive in treating hypo perforator vein.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~9.9% |
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Base Year Market Size (2022) |
~ USD 1 Billion |
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Forecast Year Market Size (2035) |
~ USD 4 Billion |
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Regional Scope |
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Product (Ablation Devices, Sclerotherapy Injections)
The ablation devices segment is estimated to dominate 60% of the global varicose veins treatment market share by 2035, attributed to the increasing adoption of laser ablation technology in the treatment pathway. The increased convenience and ease in the use of ablation devices are poised to contribute to the growth of the segment. A research study demonstrated that laser ablating therapy was cost-effective and the preferred first treatment for asymptomatic varicose veins which had a diameter of not less than 3 mm.
Procedure (Injection Sclerotherapy, Endovenous Ablation, Surgical Ligation)
Varicose veins treatment market from the injection sclerotherapy segment is set to grow at a significant CAGR till 2035. The benefits of this treatment, including less bruising and scars, absence of anesthesia, shortened hospital stays, and simpler follow-up procedures are the main reasons why it is dominating the market share. In addition, patients who are receiving injections of sclerotherapy in the U.S. can be covered by Medicare. A number of organizations set up campaigns in support of the awareness and use of different treatments every year.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Procedure |
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North American Market Forecast
North America varicose veins treatment market share of about 34%, is projected to be the largest by the end of 2035. This domination can be attributed majorly to the increasing number of well-developed healthcare systems in the United States. Further, the presence of a large number of key players in the region, enables products to be more widely available on the market.
Moreover, the people of the United States may avail themselves of this treatment at a low cost as a result of favorable reimbursement conditions. The disease burden of varicose veins in the USA is also expected to contribute to the growth of the market. Also, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies that promote the market players to opt for easy testing of drugs over a large target population so as to develop efficient treatment options.
APAC Market Statistics
The Asia Pacific market is predicted to register a substantial growth rate through 2035. Due to the large population, the Asia Pacific region offers a lucrative growth opportunity for key players in the market. In addition, the region's expanding healthcare industry and rising innovation and product launches in the field of varicose veins are also anticipated to boost the industry's growth.
Author Credits: Radhika Gupta, Shivam Bhutani
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